Steven Quirk Sells 10,837 Shares of Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven Quirk sold 10,837 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total transaction of $931,006.67. Following the sale, the insider owned 81,989 shares of the company’s stock, valued at approximately $7,043,674.99. The trade was a 11.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Robinhood Markets Trading Down 6.6%

Robinhood Markets stock opened at $82.47 on Friday. Robinhood Markets, Inc. has a 12-month low of $63.51 and a 12-month high of $153.86. The stock has a market cap of $74.27 billion, a P/E ratio of 39.84, a PEG ratio of 2.47 and a beta of 2.35. The company has a 50-day moving average price of $78.09 and a 200 day moving average price of $93.03.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business earned $0.37 earnings per share. Robinhood Markets’s revenue was up 15.1% on a year-over-year basis. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.85 EPS for the current year.

Robinhood Markets News Summary

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Director Meyer Malka bought 181,000 shares for about $15.1 million, a notable insider purchase that signals confidence in Robinhood’s outlook and helped support sentiment around the stock.
• Positive Sentiment: Robinhood is getting a fresh growth narrative from its plan to open SpaceX IPO access to everyday investors, which could attract new users, deposits, and more engagement on the platform. Article Title
• Positive Sentiment: FINRA’s elimination of the pattern day trader rule removes a major barrier for small-account traders, which could broaden Robinhood’s addressable market and increase trading activity. Article Title
• Positive Sentiment: Goldman Sachs raised its price target on HOOD to $105 and kept a buy rating, reinforcing a constructive view on the stock despite recent volatility.
• Positive Sentiment: Robinhood continues expanding beyond basic brokerage with advisor-network, AI, and wealth-management initiatives, which investors may see as a path to higher-quality recurring revenue. Article Title

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Robinhood Markets by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock valued at $10,831,756,000 after purchasing an additional 1,334,443 shares during the period. State Street Corp boosted its stake in shares of Robinhood Markets by 2.7% in the fourth quarter. State Street Corp now owns 33,121,452 shares of the company’s stock valued at $3,746,036,000 after purchasing an additional 875,297 shares during the period. Geode Capital Management LLC boosted its stake in shares of Robinhood Markets by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock valued at $2,386,944,000 after purchasing an additional 356,902 shares during the period. Morgan Stanley boosted its stake in shares of Robinhood Markets by 23.9% in the fourth quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after purchasing an additional 2,061,832 shares during the period. Finally, Norges Bank purchased a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $1,202,160,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Robinhood Markets from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Mizuho lifted their price target on shares of Robinhood Markets from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Morgan Stanley dropped their price target on shares of Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating for the company in a research report on Friday, April 10th. Truist Financial dropped their price target on shares of Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $130.00 price target on shares of Robinhood Markets in a research report on Tuesday, April 14th. Nineteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.54.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.